Govt cancels DBP-LandBank merger orderThe planned merger of Land Bank of the Philippines (LandBank) with the Development Bank of the Philippines (DBP) will not push through. Govt cancels DBP-LandBank merger order (mb.com.ph)The Governance Commission for GOCCs (GCG) has cancelled on September 6 Executive Order 198 issued by the Aquino administration for the DBP-LandBank merger. Flores III and Commissioners Michael Cloribel and Samuel Dagpin Jr, together with Finance Secretary Carlos Dominguez III and Budget Secretary Bejamin Diokno. Executive Order 198 was released on February 4, which authorizes the merger of two-government owned banks. He added that only a law will legalize the merger since the two banks were legislated by the Congress.

Source: Manila Bulletin September 07, 2016 09:45 UTC